Investing.com - Gold prices gained on Monday in Asia as investors bought following lastw eek's sharp dip to end the week and looked ahead to the Federal Reserve meeting this week.
On the Comex division of the New York Mercantile Exchange, gold futures for June delivery rose 0.41% to $1,179.80.
Also on the Comex, silver futures for May delivery gained 0.59% at $15.775 a troy ounce.
Elsewhere on the Comex, copper for May delivery fell 0.08% to $2.751a pound. There is speculation policymakers in China will have to introduce further stimulus measures to jumpstart the economy amid lackluster growth.
The Asian nation is the world’s largest copper consumer, accounting for almost 40% of world consumption last year.
Last week, Gold prices ended Friday's session at the lowest level in almost five weeks, as global equity markets rallied to trade near all-time highs, dampening the appeal of the precious metal.
Stock markets around the world rose to new all-time highs on Friday, boosted by upbeat corporate earnings results.
In the U.S., the Nasdaq Composite pushed above its previous record set in March 2000, while Japan's Nikkei 500 ended the week close to a 15-year peak.
The Commerce Department reported Friday that orders for durable goods, excluding aircraft, fell 0.5% in March, after a downwardly revised 2.2% drop in February.
The headline figure rose 4.0%, beating expectations for a 0.6% gain, but investors focused on underlying weakness in the report.
In the week ahead, market players will focus on the conclusion of the Federal Reserve's two-day monetary policy meeting on Wednesday, which could provide indications on how soon it might raise interest rates.
Investors will also be looking ahead to preliminary data on first quarter U.S. growth figures for further indications on the strength of the economy.
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Gold prices gain in early Asia on rebound, investors look ahead to Fed
Published 04/26/2015, 08:25 PM
Updated 04/26/2015, 08:26 PM
Gold prices gain in early Asia on rebound, investors look ahead to Fed
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